Hello Group (NASDAQ:MOMO) Shares Up 3.4% – Still a Buy?

Hello Group Inc. (NASDAQ:MOMO) shares were up 3.4% during trading on Tuesday . The stock traded as high as $7.55 and last traded at $7.54. Approximately 148,512 shares traded hands during trading, a decline of 91% from the average daily volume of 1,627,308 shares. The stock had previously closed at $7.29.

Analyst Ratings Changes

Several equities research analysts recently issued reports on MOMO shares. Citigroup lifted their price objective on shares of Hello Group from $5.90 to $7.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. StockNews.com raised Hello Group from a “sell” rating to a “hold” rating in a research report on Wednesday, November 27th. Bank of America lowered Hello Group from a “buy” rating to an “underperform” rating in a report on Wednesday, November 6th. Finally, Benchmark cut their price objective on Hello Group from $15.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, September 4th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.25.

Hello Group Stock Performance

The stock has a market cap of $1.12 billion, a P/E ratio of 7.95, a P/E/G ratio of 2.40 and a beta of 0.51. The firm has a 50 day moving average of $7.06 and a two-hundred day moving average of $6.81.

Institutional Investors Weigh In On Hello Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Blue Trust Inc. grew its position in Hello Group by 472.1% in the 3rd quarter. Blue Trust Inc. now owns 3,873 shares of the information services provider’s stock worth $29,000 after purchasing an additional 3,196 shares during the last quarter. B. Riley Wealth Advisors Inc. acquired a new stake in Hello Group during the second quarter worth about $68,000. Kathmere Capital Management LLC bought a new stake in shares of Hello Group during the second quarter valued at approximately $74,000. Vanguard Personalized Indexing Management LLC bought a new stake in Hello Group in the 2nd quarter valued at $87,000. Finally, SG Americas Securities LLC bought a new position in shares of Hello Group during the 3rd quarter worth about $125,000. Institutional investors and hedge funds own 50.96% of the company’s stock.

Hello Group Company Profile

Hello Group Inc provides mobile-based social and entertainment services in the People's Republic of China. It operates in three segments: Momo, Tantan, and QOOL. The company offers Momo, a mobile application that connects people and facilitates social interactions based on location, interests, and various online recreational activities, including live talent shows, short videos, social games, as well as other video- and audio-based interactive experiences, such as online parties, mobile karaoke and user participated reality shows; Tantan, a social and dating application; and other applications under the Hertz, Soulchill, Duidui, and Tietie names.